Boyaa Interactive Becomes Asia’s Largest Corporate Holder of Bitcoin

Boyaa Interactive, a prominent Chinese gaming company, has surpassed Japan’s Metaplanet to become the largest corporate holder of Bitcoin in Asia. This development follows Boyaa Interactive’s recent move to convert $49.48 million worth of Ethereum into Bitcoin.

A Significant Conversion

Between November 19, 2024, and November 28, 2024, Boyaa Interactive converted 14,200 Ethereum into approximately 515 Bitcoin. According to the company’s disclosure on November 29, the conversion was conducted in the open market. The company had initially acquired the Ethereum for $39.45 million at an average price of $2,777 per coin.

The sale of the 14,200 Ethereum resulted in Boyaa Interactive’s Bitcoin holdings increasing to approximately 3,183 Bitcoin, with the average purchase price at $57,754 per Bitcoin.

A New Leader in Asia

With this move, Boyaa Interactive has overtaken Metaplanet, the previous largest corporate holder of Bitcoin in Asia. Metaplanet’s total Bitcoin holdings stood at 1,018 Bitcoin, valued at over $67 million. In comparison, Boyaa’s total Bitcoin holdings at current prices are over $312 million.

A Growing Trend

Boyaa Interactive began its cryptocurrency treasury strategy in November 2023, with plans to allocate up to $100 million in Bitcoin, Ethereum, and other cryptocurrencies. Several companies have followed MicroStrategy’s playbook by adopting a Bitcoin strategy, including Thumzup and Rumble. This trend appears to be gaining momentum as Bitcoin‘s price approaches the $100,000 level.

Metaplanet, dubbed “Asia’s MicroStrategy,” has been aggressively buying Bitcoin and recently announced plans to raise $62 million to purchase more Bitcoin.

Investors interested in cryptocurrency and Bitcoin can stay up-to-date with the latest news and trends on Global Crypto News.

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